US soyabean futures closed higher on Thursday on spillover support from a soaring wheat market and some forecasts for hotter and drier weather in the US in late July and August. Big export sales of US soya also supportive. CBOT August up 21-1/2 cents per bushel at $10.19. September up 25-3/4 cents at $10.01 per bushel; new-crop November up 26 cents at $9.88.
Funds bought 8,000 contracts. USDA said export sales of US soya last week totalled 1,225,000 tonnes, above estimates for 750,000 to 1,000,000 tonnes. Exporters sell 116,000 tonnes US soyabeans to China for 2010/11 delivery and 238,000 tonnes to unknown destinations for 2010/11, according to USDA.
CBOT August soyameal up $9.30 at $307.60 per ton. Spillover support from rally in soya. Funds bought 4,000 contracts. USDA said export sales of US soyameal last week totalled 89,300 tonnes, within estimates for 75,000 to 175,000 tonnes. CBOT August soyaoil up 0.48 cent at 38.59 cents per lb. Support from soya and gains limited by lower crude oil. Funds bought 3,000 contracts. USDA said export sales of US soyaoil last week totalled 53,000 tonnes, within estimates for 45,000 to 55,000 tonnes.
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